It “bears” repeating: “This ain’t your daddy’s market anymore, baby!”

6:27 AM – Aug. 4 — Something tells me the TV remotes of oil traders will be getting an unusually strong workout as traders switch between financial reporting and watching The Weather Channel for updates on Tropical Storm Edouard, which according to MarketWatch, is threatening to hit the oil-producing areas of the Gulf of Mexico.

It appears Time Warner has internally split-up it’s AOL unit’s dial-up-access business from the ad and content side of the operation, according to The Wall Street Journal, which indicated they plan to make this announcement on Wednesday. The story goes on to say they will be making a decision regarding whether they’ll put just one, or both sides of the AOL business on the shopping block.

And while I haven’t been too kind regarding some recent reporting out of the Journal, my hat’s off to Ellen E. Schultz and Theo Francis for today’s investigative reporting piece naming specific companies which have been moving “hundreds of millions of dollars of obligations for executive benefits into rank-and-file pensions plans” over the past few years. Schultz and Francis investigate and break this story down so beautifully that it’s worthy of a Pulitzer nomination.

Speaking of good reporting, Jay Palmer has an interesting piece over at Barron’s today on how to trade America’s renewed love affair with the train, indicating 12 percent more rode the rail this year compared with last year.

As some proof that goes hand-in-hand with my constant reminder that “this ain’t your daddy’s market anymore, baby,” Barron’s is reporting today that mutual funds that have a tendency to short stocks have been having a much better time in the market lately than their long rivals.

But….

As much as I like to drive that point home — it’s equally important for every investor to keep a look for potential long-run plays in this market, as well. Trust me, there are great companies out there that are getting unfairly beaten-up in this market, and over the long haul you’re going to be giving yourself some firm pats on the back if you scoop them up now and tuck them away for when the bulls are ruling the street once again.

Just remember not to base any of your investment decisions on anything you read in my forum. Do your own due diligence, or at least enough research to hire the right professional to do it for you.